Hussain Sajwani is a real estate billionaire ranked as number 527 on the Forbes list of the richest personalities in the world. He is quoted to have a net worth amounting to $3.4 billion with his wealth concentrated in the real estate sector. A UAE citizen, Hussain Sajwani is married and has four children. He attained his academic credentials from the University of Washington, graduating with a Bachelor of Arts in Science.
DAMAC Properties in Real Estate
DAMAC is behind the luxurious property development in the UAE. The man at the helm of the company is Hussain Sajwani. His business ventures and dealings have earned him a reputation on an international scale with dealings spanning from Bosnia, Somalia, America and the Gulf. Recently in the US, he opened a Washington hotel, an addition to his investment portfolio. As part of DAMAC’S growth strategy, plans are underway to enlist in the London Stock Exchange in an IPO plan. DAMAC is set to finance its various expansion projects through the IPO funds. The key to DAMAC’s survival in the real estate market fall in 2008, was based on its three principles. Firstly, all its land acquisitions are paid in full on first time purchase. Secondly, each of DAMAC’s projects supports itself. The third is their strict cash policy, ensuring that they always have cash secured in government securities and fixed deposits so as to ensure continuity in their projects whenever there is a market dip. Of note is the luxury detail DAMAC boasts of in its properties. This is thanks to the partnership with luxury brands, Versace and Fendi. Indeed, the company has set itself apart under the stewardship of Husain Sajwani.
Hussain Sajwani and His Business Partners
As a developer, his business dealings crossed paths with the Trump Organization. Both real estate leaders formed close business ties as well as a personal relationship that saw their dealings develop the Trump International Golf Club. Since its inception, the club has generated as much as $2 billion in sales revenue. Such key connections among others have seen the company expand its operations with key success.
Hussain Sajwani has truly earned his right as a real estate guru in the UAE and beyond.